Holm Bank offers 3% annual interest on all deposit terms

From 10 to 16 November, both private and business customers can open fixed-term deposits at Holm Bank with an annual interest rate of 3%, regardless of the chosen deposit period.

“Estonia’s leading deposit rate of 3% per annum on all terms gives customers the freedom to choose how long they wish to deposit their savings,” said Kaspar Kalvet, Chairman of the Management Board of Holm Bank. “A similar campaign we ran in September attracted considerable interest from customers, and we decided to repeat it before the end of the year.”

According to Kalvet, the peak of deposit interest rates, when it was possible to earn 4% or more, was reached at the end of 2023. “Since then, interest rates have been in steady decline. The European Central Bank’s recent decisions to keep base rates unchanged have created a more stable environment in the deposit market. At present, the average level has remained around 1.98%,” he explained.

Kalvet noted that Holm’s goal is to offer a clear and transparent opportunity for both individuals and business customers to hold and grow their funds that would otherwise remain idle in current accounts.

“When a person or a business has funds that are intended for future use but are currently sitting unused in their account, a fixed-term deposit is a safe way to preserve and increase their value. At Holm, deposits can be made from three months to five years, all with the same high annual interest rate of 3%,” said Kalvet.

He added that a fixed-term deposit is particularly suitable for those who value stability and peace of mind.

“While people with a higher risk appetite may seek greater returns on the stock market or through investment funds, the advantage of a term deposit lies in its predictability and security. The interest rate is fixed in the agreement for the entire term, the return can be calculated in advance, and deposits of up to €100,000 are guaranteed by the national Guarantee Fund,” Kalvet added.